Symphony Limited (SYMPHONY) Stock - Complete Technical Analysis - Oct 25, 2024

Symphony Limited (SYMPHONY) Technical Analysis: Key Levels & Insights

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. In this analysis for Symphony Limited, we focus on the stock currently priced at 1601, reflecting a notable 14.88% drop from its 52-week high of 1880.95. This recent price action demonstrates a significant recovery of 95.24% from its 52-week low of 820.

Identifying key support and resistance levels, we find immediate support around 1550, while resistance is observed near 1700. The ADX suggests a strong trend, with the RSI indicating potential oversold conditions, hinting at a possible reversal.

The MACD shows weak bullish momentum, while the Stochastic oscillator points towards oversold conditions, suggesting a likelihood of a bounce back. Recent trading activity indicates volatility, highlighted by a high of 1670.95 on October 25, which ultimately closed at 1601.

Investors should closely monitor the support level at 1550; if it fails, further downside could be anticipated. On the other hand, a breakthrough above 1700 may signify a stronger upward trend, making it essential for traders to utilize these indicators for their strategies.